Cushman & Wakefield announced the firm has advised Optima in the acquisition of a 22-acre development site on the southeast corner of Scottsdale Road and the Loop 101 freeway in Scottsdale.

Chicago-based Optima is constructing a new luxury mixed-use residential project named Optima McDowell Mountain Village on the northern Scottsdale site, according to a press release. The project will consist of six 8-story buildings totaling approximately 1,330 residential units plus 36,000 square feet of commercial space plus top amenities.

Four of the buildings will be rental apartments and the other two are for-sale condominiums. The unit mix will consist of studios, one-bedroom, two-bedroom and three-bedroom units that range from 775 to 2,025 square feet.

Optima acquired the land from John Lund for $44.75 million. The site was originally proposed for three new car dealerships, the release explained.

Managing Director Don Arones with Cushman & Wakefield in Phoenix represented the buyer and Marty De Rito of De Rito Partners, Inc. represented the seller in the transaction.

The project was recently approved by the city council and is estimated to cost up to $1 billion, the release stated.

“This will be a world-class residential project and will provide needed upscale housing to the many employers in the growing Scottsdale area and surrounding communities. The property is strategically located along the freeway that will also make it very convenient for residents to access any destination,” said Don Arones in the release.

Designed by architects David C. Hovey and David Hovey, Jr., Optima McDowell Mountain Village is comprised of six concrete-framed condominium and apartment buildings with undulating landscaped facades that echo the shapes of the McDowell Mountains.

Each of the six buildings will contain its own resort-style amenity offering which will include a rooftop deck with a 50-meter Olympic-length swimming pool, a sauna, a spa and a cold plunge among many other luxury features.

The ground-floor level of each building will be similarly outfitted with spacious, well-appointed lobbies, a fitness center and yoga studio that look out over the landscaped courtyard, a sauna and steam room plus much more.

With views of the majestic McDowell Mountain range as the backdrop, the location is just a five-minute drive to the shopping, dining and entertainment destinations of Scottsdale Quarter and Kierland Commons.

Being adjacent to the Loop 101 Freeway and just two minutes from the SR-51 Highway and ten minutes away from the I-17 Highway will allow residents to be just 15-25 minutes from Downtown Phoenix, Glendale, Old Town Scottsdale, Tempe, Mesa and Phoenix Sky Harbor Airport, the release detailed.

Also, the development will feature a bicycle and pedestrian path around the perimeter of the development that will connect to the bicycle and multi-use paths of the City of Scottsdale Bicycle Master Plan.

Parking at McDowell Mountain Village will be 100% underground, and Optima will also be developing a new roundabout on Mayo Boulevard.

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Colliers in Arizona has released the annual Greater Scottsdale Airpark 2030 Report, indicating healthy conditions within the growing submarket.

According to the report, demand for commercial space in the area is exceeding supply and development of new space is being handled at a healthy pace.

“Many are speculating a future recession, but we are not overly concerned about that for the Scottsdale Airpark,” said Jim Keeley, SIOR, CCIM and founding partner of the Colliers Scottsdale office.

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PHOENIX — Development firm Optima has started construction on its newest residential development in Arizona called Optima McDowell Mountain Village.

The $1 billion development stretches across 22 acres southeast of Scottsdale Road and the Loop 101 in north Scottsdale.

Optima, which has experience developing in Phoenix, Scottsdale and throughout the Valley, has partnered with Mitsui Fudosan America, a subsidiary of Japan’s largest real estate company, on the project.

Earlier this month, developers broke ground on the first building, which will contain 210 rental units. It will eventually be one of six buildings, including over 1,300 luxury residences.

Among the architectural design are rooftop amenities on top of each building, including an Olympic-length swimming pool, running track around the perimeter of the roof, outdoor fire pits, lounge seating, barbecue spaces and more.

Ground floor amenities include a fitness center, sauna, game room, theater, indoor sport courts, an outdoor pickleball arena, golf activities and more.

Connecting all six buildings is the courtyard stretching across the development which features a bike and walking path around the perimeter of the property as well as the nearby paths throughout Scottsdale.

The development is the first project in Arizona designed to meet the standards of the International Energy Conservation Code as well as International Green Construction Code. Solar panels, native plants and underground parking are among some of the contributing factors.

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1. Kimley-Horn & Associates earned a National Recognition Award from the American Council of Engineering Companies for its engineering work on the Tonto Creek Bridge in Tonto Basin. The 1,980-ft structure was funded by a $23.9M federal grant and built by Ames Construction. Ethos Engineering, Inc., Logan Simpson Design, Inc., J.E. Fuller, Inc., Newton Environmental Consulting, LLC and Commonwealth Heritage Group, Inc. also assisted with the project.

2. Green Ideas Building Science Consultants announced the Chase Sapphire Lounge at Phoenix Sky Harbor International Airport achieved LEED-CI Gold certification on April 14. The 3.6KSF lounge in Terminal 4 was designed by Corgan and GLUMAC Engineers and built by Alston Construction.

Groundbreakings

3. DESRI broke ground April 30 on the Catclaw Power and Storage Project, a 250MW solar and 250MW battery storage facility spanning 1,618 acres in Buckeye. The project will connect APS customers statewide by connecting to the regional electrical grid through APS’ Sun Valley Substation. Completion is expected by mid-2026.

4. The City of Phoenix has broken ground on Innovation 27, a $43.5M workforce and education center at the NWC of 27^th and Northern avenues. The project has been in the works for at least five years. It will offer trade education through partners including the West-MEC high school district, Maricopa Community Colleges, Arizona State University, Northern Arizona University and the Washington Elementary School District. The center is expected to open in summer 2026.

5. Buc-ee’s is breaking ground on its first Arizona location at 1001 N. Bullard Ave. in Goodyear. The company acquired the 22-acre site for $17.2M in March 2024 and began site grading that October. The 74KSF 24/7 travel center will include 120 fueling stations, retail and food offerings.

Progress Reports

6. Optima has launched sales for 7230, the first for-sale condominium tower in its $1B Optima McDowell Mountain development in north Scottsdale. The 196-unit tower is part of the first phase alongside 7220, an apartment tower set to debut in fall 2025. Completion of 7230 is expected in summer 2027. The 22-acre development at Scottsdale Road and Loop 101 will include six eight-story towers with residential, retail and restaurant space.

7. Willmeng Construction hit a major project milestone on a renovation project at McCormick Stillman Railroad Park in Scottsdale. Willmeng and its structural steel subcontractor, Castle Steel, recently raised the final support beam on the new, 7.5KSF Roundhouse, which will be a central feature of the newly renovated park.

8. Willmeng Construction recently celebrated the topping-off ceremony for the Mesa Gateway Library, complete with signatures from across the city. With this being the first public library in 35 years to be built in Mesa, the community had a special role to play in documenting this milestone.

9. A new Lowe’s at South Bridge Marketplace in Maricopa is nearing completion. The 94KSF store broke ground in November and is targeting a late July opening.

Completions

10. LGE Design Build completed construction of Thunderbird Commerce Park, a 243KSF Class A industrial facility developed by Creation at Scottsdale and Thunderbird roads. Located near the Scottsdale Airport, the project features 32-ft clear heights, 51 truck doors, EV charging, and a modern design tailored for aerospace, semiconductor and logistics tenants.

11. Brinkmann Constructors, in partnership with Scannell Properties, completed a 150KSF industrial manufacturing facility for Super Radiator Coils in Mesa. The project includes 45KSF of Class A office space and 130KSF of conditioned manufacturing space with gantry cranes, gas piping systems and a cleanroom. Ware Malcomb was the architect.

12. Holualoa Companies and Plaza Companies completed a major renovation of WaterView, a 209KSF Class A office complex at the intersection of Highland Avenue and 22nd Street in Phoenix. The upgrades included new spec suites, modernized interiors, refreshed outdoor spaces and enhanced amenities. Plaza led property management and construction, and Lee & Associates’ The Coppola Cheney Group is the space’s leasing brokerage.

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Chicago-based Optima will break ground on an Arizona residential community, the $1 billion Optima McDowell Mountain Village, in North Scottsdale, Ariz., later this year. It has received all city approvals for the 22-acre sustainable mixed-use development.

The project will consist of six eight-story buildings with approximately 1,300 residential units in addition to 36,000 square feet of commercial space. Four of the buildings will be rental apartments and two will offer for-sale condominiums.

Optima, a privately held development firm with offices in Arizona and Illinois, has several Arizona projects, including Optima Biltmore Towers, Optima Camelview Village, Optima Sonoran Village and Optima Kierland.

Cushman & Wakefield advised the development firm in the acquisition of the site on the southeast corner of Scottsdale Road and the Loop 101 Freeway. Optima acquired the land, where three car dealerships had initially been proposed, from John Lund for some $44.8 million.

Managing Director Don Arones with Cushman & Wakefield in Phoenix represented the buyer and Marty De Rito of De Rito Partners, Inc., represented the seller.

Arones said in prepared remarks the project will provide needed upscale housing to the employers in the growing Scottsdale area and surrounding communities. The strategic location along the freeway makes the property convenient for residents to access from any destination, he said.

Sustainable Highlights

Construction on Optima McDowell Mountain Village, described as Optima’s most sustainable project to date, is slated to begin either this spring or summer. David Hovey Jr., Optima’s president, COO and principal architect, said in a prepared statement the company is excited about the location as it is nearby the McDowell Mountains, Loop 101 freeway and major employment opportunities.

The project will architecturally feature more than 75 percent open space with six buildings surrounding a central sheltered courtyard comprised of xeriscape, drip irrigation and artificial turf. The asset will have the largest private rainwater harvesting system in the United States as well as the next evolution of Optima’s vertical landscaping system and active roof decks, Hovey said in prepared remarks. Hovey and his father, David C. Hovey, Optima co-founder and co-CEO, designed the Optima McDowell Mountain Village.

The community will be the first in Arizona to be built under both the new International Energy Conservation Code and International Green Construction Code. Other sustainable features will include high-performance mechanical systems, solar panels, underground parking to mitigate the heat-island effect and Optima’s signature vertical landscape system.

More Project Details

The unit mix will consist of studio, one-, two- and three-bedroom homes ranging from 775 square feet to 2,025 square feet. Each building will have its own resort-style amenities including a rooftop deck with a 50-meter Olympic-length swimming pool; sauna, spa and cold plunge; running track that will follow the perimeter of the roof; outdoor fireplaces; lounge seating; outdoor kitchens with barbecues and dining spaces with sheltering arbors.

Ground-floor level of each building will have lobbies; a fitness center and yoga studio overlooking the courtyard; a sauna and steam room; a residents’ club with game room and theater; an indoor basketball and pickleball court and outdoor pickleball arena; golf simulator; outdoor putting and chipping area; children’s play spaces; massage room; business center and conference room; and a pet spa and dog park.

The development will have a bicycle and pedestrian path around the perimeter that will connect to those in the City of Scottsdale Bicycle Master Plan.

In addition to being adjacent to the freeway, the community will be near the SR-51 and Interstate 71. Optima has agreed to develop a new roundabout on Mayo Boulevard.

Residents will be a five-minute drive to the shopping, dining and entertainment offerings in Scottsdale Quarter and Kierland Commons. The location is less than 25 minutes from Downtown Phoenix, Glendale, Old Town Scottsdale, Tempe, Mesa and Phoenix Sky Harbor Airport.

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The Scottsdale Development Review Board voted 6-0 earlier this month to approve the exterior aesthetics for Optima McDowell Mountain Village, a multiphase, 22-acre residential and retail site near Scottsdale Road and Mayo Blvd.

Plans call for 36KSF of retail and 1,300 apartments and condominiums ranging from 775SF up to 2,025SF.

The project has a 10-year estimated timeline and will be built in three phases. Building heights will be a mix of six- and eight-story structures with ground-floor amenities and rooftop swimming pools and running tracks.

All the infrastructure to support the project will take place in the first phase of construction, and the City of Scottsdale will undertake creating a road from the east of the project to Hayden Blvd. as a separate project.

The total development cost for Optima McDowell Mountain Village has been estimated at $1B. (Source)

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Award-winning real estate development firm, Optima is partnering with Mitsui Fudosan America, Inc. for the development of the first building within its newest Arizona residential development, Optima McDowell Mountain Village, located on 22-acres on the southeast corner of Scottsdale Road and the Loop 101 Freeway in North Scottsdale.

The first building will consist of 210 rental residences, which just broke ground this month and is located on the southwest corner of the site. The overall development will comprise six, eight-story apartment and condominium buildings that will include 1,330 luxury residences and 36,000 square feet of commercial and retail space.

Designed by David Hovey Sr., FAIA, and David Hovey Jr., AIA, each of the six buildings will feature the sophisticated architectural detail that characterizes Optima’s Arizona projects and will contain its own resort-style amenity offering which will include a rooftop sky deck with a 50-meter Olympic-length swimming pool; a sauna, spa, and cold plunge; a running track that will follow the perimeter of the roof; outdoor fire pits; lounge seating; outdoor kitchens with barbecues and dining spaces and sheltering arbors covered with vines. Every rooftop will offer spectacular views of the McDowell Mountains to the east, vibrant sunsets to the west, Pinnacle Peak to the north and Camelback Mountain to the south.

The ground-floor level of each building will be similarly outfitted with spacious, well-appointed lobbies; a fitness center and yoga studio that look out over the lushly landscaped courtyard; a sauna and steam room; a residents’ club with game room and theater; an indoor basketball and pickleball court; an outdoor pickleball arena; a golf simulator; an outdoor putting/chipping area; indoor and outdoor kids’ play spaces; a massage room; a dog park and pet spa; and a business center and conference room.

Optima McDowell Mountain Village™ will provide an unprecedented 75% open space area at grade level with a grand central courtyard as well as feature a bicycle and pedestrian path around the entire perimeter of the master planned development that will connect to the project’s 36,000 square feet of destination retail as well as the bicycle and multi-use paths of the City of Scottsdale Bicycle Master Plan.

“We are very excited to begin this partnership with an organization of the caliber of Mitsui Fudosan America that shares our commitment to exceptional design, the highest quality construction, resident-centric property management, and the creation of sustainable neighborhoods,” says David Hovey Jr., AIA, President & COO of Optima®, Inc.

The community will be the first project in Arizona to be built under both the new International Energy Conservation Code (IECC) and International Green Construction Code (IgCC). A few highlights of the sustainable features include 75% open space that will be a combination of artificial turf, xeriscape landscaping and native plants; high-performance mechanical systems, and solar panels; 100% underground parking to mitigate the heat-island effect, Optima’s signature vertical landscape system, and the largest private rainwater harvesting system in the United States. The vertical landscaping system, with its self-containing irrigation and drainage, enables a palette of vibrantly colored plants at the edge of each floor to grow both up and over the edge of the building. The integration of enhancements to the vertical landscape and architectural shading systems protects homes from the sun and creates additional privacy, while filtering the air and lowering ambient temperature.

With views of the majestic McDowell Mountain range as the backdrop, the location is just a five-minute drive to the shopping, dining and entertainment destinations of Scottsdale Quarter and Kierland Commons. Being adjacent to the Loop 101 Freeway and just two minutes from the SR-51 Highway and ten minutes away from the I-17 Highway will enable residents to be just 15-25 minutes from Downtown Phoenix, Glendale, Old Town Scottsdale, Tempe, Mesa, and Phoenix Sky Harbor Airport.

Now in its 46th year, Optima® continues to grow in the Greater Phoenix market. Having previously opened Arizona luxury condominium and apartment developments, including Optima Biltmore Towers®, Optima Camelview Village®, Optima Sonoran Village®, and Optima Kierland Center®.

“As is evidenced by our investment in our Optima McDowell Mountain Village™ project, Optima® signifies our long-term commitment to ongoing investment in the growing Scottsdale and Arizona markets,” adds Hovey Jr.

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Optima has officially launched sales for the first luxury condominium tower at Optima McDowell Mountain. This $1 billion master-planned community in North Scottsdale is already attracting strong interest, with nearly $27 million in early reservations secured prior to the public sales release.

The development marks Optima’s return to the Arizona for-sale market for the first time in four years. Its new project blends cutting-edge architectural design, sustainability innovations, and a lifestyle-forward amenity experience. The first tower, named 7230, will offer 196 residences ranging from 728 to 2,204 square feet.

The homes will feature one-, two-, and three-bedroom layouts with signature elements such as floor-to-ceiling glass walls, lush private terraces, designer kitchens, and integrated smart-home technology. Prices are estimated to begin in the $600,000s for one-bedroom units, the $900,000s for two-bedroom units, and around $1.4 million for three-bedroom residences.

Optima McDowell Mountain will encompass six eight-story towers set across a 22-acre site at the southeast corner of Scottsdale Road and Loop 101. The community will include a mix of condominiums and rental apartments and approximately 36,000 square feet of retail and restaurant space. The project is designed to integrate with its natural surroundings and emphasizes green space, walkability, and ecological harmony.

“This is a significant milestone for Optima,” President David Hovey Jr., AIA, said. “It’s the first time in four years we’ve introduced for-sale residences in Arizona, and we’re bringing everything we’ve learned into this new community. Optima McDowell Mountain reflects our ongoing commitment to thoughtful design and quality living, and it represents the next chapter in our legacy.”

Atop 7230, a rooftop Sky Deck will offer panoramic views of the McDowell Mountains and feature an Olympic-length heated lap pool, a running track, a cold plunge, a spa, a sauna, firepits, yoga studios, outdoor kitchens, shaded lounge areas, and entertainment zones.

Ground-level amenities will elevate the living experience with a high-tech fitness center, Pilates and group training spaces, indoor/outdoor workout areas, a basketball/pickleball court, massage room, golf simulator, bocce court, movie theater, chef’s kitchen for private events, and dedicated children’s play zones. Additional features include a business center, pet spa, and outdoor relaxation areas.

Environmental sustainability is a cornerstone of development. Optima McDowell Mountain will be home to the largest private rainwater harvesting system in the United States. This underground system will collect and store up to 210,000 gallons of rainwater to irrigate the site, significantly reducing water consumption.

Additional features include self-irrigating vertical landscaping that provides natural insulation and air purification, rooftop solar panels, underground parking to reduce surface heat, high-efficiency variable refrigerant flow HVAC systems, induction cooktops in all homes, and EV charging stations available to both residents and guests.

With sales for the first condominium tower now underway, completion is expected in summer 2027. Interested parties can learn more by visiting OptimaMcDowellMountain.com.

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For potential residents, this project is literally through the roof – with rooftop shade trees, running tracks, swimming pools and stunning views of the surrounding mountains.

But on the checklist of things current Scottsdale residents go through the roof in anger over, this billion-dollar project hits them all.

Desert land being developed? Check.

More apartments? Check.

More traffic? Check.

Roundabout? Check.

On May 4, the Development Review Board unanimously approved Optima McDowell Mountain Village, which plans 10- story buildings housing 1,330 luxury apartment and condo units on North Scottsdale Road.

The desert land to be developed spans from Mayo Boulevard to the Loop 101.

Scottsdale City Council narrowly approved the development in November.

The mammoth Optima project, projected to cost $1 billion to build, was opposed by council members Kathy Littlefield, Betty Janik and Solange Whitehead.

“Residents told us loud and clear to anyone who was listening in the last election that they wanted to slow down the development in Scottsdale,” Littlefield said at the November meeting.

“It seems to me all we’ve done now is try and find the ways to manage to grow more and grow higher. Higher, denser, bigger is not what our citizens voted for.”

But Mayor David Ortega and council members Tammy Caputi, Tom Durham and Linda Milhaven approved the high-end complex.

Littlefield raised concerns about water use.

“I am concerned about a couple of things with this,” Littlefield said. “We’ve been going around telling our neighbors and telling our citizens, ‘Cut back on water, cut back on water, don’t water your lawn, don’t do this, don’t do that.’”

But an Optima representative sold the Development Review Board that the development will be extremely “green.”

“This will be our most sustainable project to date,” Optima’s David Hovey Jr. promised.

“Optima McDowell Mountain Village (units) will use approximately one-quarter the amount of water of a single-family home.”

Last year, Optima transferred 2,750 acre feet of water to the city “to make the project water neutral.”

Hovey Jr. said that would provide anywhere from 11 to 32 years of demand by the new project.

Optima says it will have a 210,000 gallon rainwater harvesting storage tank – which the developer claims will be the largest private rainwater harvesting system in the United States.

Optima has a similar development at Kierland Commons.

“Other site enhancements include a new sidewalk and path system along both street frontages, a roundabout located at Mayo and North 73rd Place and a transit stop along North Scottsdale Road,” according to the plan submitted by Optima.

According to the presentation, the 20-acre development in the Greater Airport Area “has evolved as the result of 11 iterations with the mayor, city council, the city’s planning and building departments and neighborhood outreach.”

“We had over 300 letters of support and only six letters in opposition,” he stressed.

In addition to adding a bus stop, the project will have a bike path “around the entire development.”

The project’s six buildings will be built in three phases, according to Hovey Jr..

He said 25% of commercial space was added “at the request of the mayor.”

“Traffic will be on average 1% to 1.8% more daily traffic than if the project was not present,” he said.

The rooftops of the buildings are particularly stunning, featuring shade trees, running tracks – and swimming pools.

Riehl referred to a $15.6 million “height buy up that can be used at the mayor and city council’s discretion.”

According to a website marketing the project, “Consisting of approximately 970 apartments and approximately 420 luxury condos for sale is Optima McDowell Mountain Village.

“The $1 billion development features a 22-acre location … subterranean parking, an underground trash system, and approximately 36,000 square feet of world-class commercial space.”

Plans show dozens of shade trees and large, open green space, including a putting green; Optima says artificial turf will drastically reduce water use.

If they were giving out grades, the Design Review Board would give this one an A+.

“This is a fantastic project for Scottsdale,” said William Scarbrough, a board member.

“I think it’s very stunning and beautiful,” fellow board member Michal Ann Joyner added. “I think North Scottsdale’s going to be very happy to have this project.”

Ali Fakih praised the “out of the box thinking” of the project.

Even Janik, who voted against the project in November, voted for it in her role with the Development Review Board.

“You have set the stage for Scottsdale development,” Janik told Optima.

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